about us

Corporate governance

Our Board has the overall responsibility for ensuring the long-term success of the business. Collectively the Board is also responsible for governance and effective oversight of the company, its business and compliance with the obligations contained in the Gas Transporter Licence.  

The Board delegate certain matters to its four principal committees which report to the Board following every meeting. This governance framework was introduced on 31 January 2023 and we believe underpins good governance practices and enables the Board to provide effective stewardship of the Company. 

Our Board Committees:

  • Audit and Risk Committee
    Assists the Board in reviewing the integrity of the Company’s financial statements, financial and regulatory compliance, the systems of internal control and risk management, and the external and internal audit processes.
  • Safety and Sustainability Committee
    Assists the Board in providing guidance and direction to the Company’s safety, health and sustainability strategies and monitoring performance against the company’s safety, health and sustainability ambitions.
  • Remuneration and Nominations Committee
    Assists the Board by determining the Company’s remuneration policy for Executive Directors, other members of the Executive Committee and the Sufficiently Independent Directors. It also reviews and makes recommendations in relation to Board appointments as well as overseeing Executive Directors succession planning.              
  • Regulation and Strategy Committee
    Assists the Board by overseeing the Company’s compliance with its licence and other regulatory obligations and oversees the development of the new regulatory framework and hydrogen strategies.  
Our Board Committees

Steering groups

The Board is also supported by two informal steering groups. These groups do not have any decision-making authority, but support management with the oversight of specific areas within their remits. 

  • Finance and Treasury Steering Group: provides oversight of the financial position across the National Gas Transmission group and develops proposals in relation to financial and treasury activities.
  • Transition and Separation Steering Group: a time-limited group which provides strategic oversight of the delivery of the separation plan, entered into as part of the separation of the company from National Grid plc.
FG Facility

Risk management 

The National Gas Board is committed to protecting and enhancing our reputation and assets, while safeguarding the interests of our stakeholders. The Board has overall responsibility for the company’s system of enterprise risk management, which includes approval of the risk management framework and internal control systems and processes set by the second line Risk, Assurance and Compliance function.  
 
The Board delegates the enterprise risk management oversight to the Audit and Risk Committee (ARC) and the Safety and Sustainability Committee (SSC). The ARC has been delegated the responsibility of monitoring and reviewing the integrity and effectiveness of our risk management framework, while the SSC has oversight of those risks that relate to safety and sustainability.